Square Enix announced today with a press release that it's shutting down its  subsidiary Shinra Technologies, that was opened about a year ago with the objective to explore cloud gaming tech and applications.

The company, which was led by former Square Enix CEO Yoichi Wada, woll be liquidated in 2016 in Japan, and in 2019 internationally.

In addition to that, the company announced an extraordinary (which in financial terms means that it applies only once) loss of two billion yen, to be registered within the consolidated financial results for the current fiscal year.